Vita Coco acquires coconut water producer Copra for $175 mln

Vita Coco coconut water on sale at a Co-op store in Sidcup · Just Drinks

By Fiona Holland Thu, July 23, 2026 at 6:14 AM PDT | 3 min read

• COCO: -1.90%

The Vita Coco Company has acquired fellow coconut water firm Copra.

In a statement released yesterday (22 July), the US-based company described Copra as "one of the leading producers of super-premium Thai Nam Hom coconut water."

Copra, headquartered in New York with a production facility in Thailand, also markets a range of coconut food products. Vita Coco noted that Copra had created "a differentiated position" in the product category as "an emerging brand business," in addition to supplying private-label products.

Deal Terms

The transaction was completed yesterday at an initial purchase price of $175 million, payable upfront upon closing. An additional "earnout consideration," ranging from $45 million to $100 million, will be paid in 2029, based on Copra's 2028 financial results.

Strategic Rationale

Michael Kirban, co-founder and executive chairman of Vita Coco, commented:

"Coconut water, which is the fastest-growing category in the beverage aisle, is still in the early innings of what it can become. We see a meaningful opportunity to keep expanding the category by meeting consumers in new occasions, formats and price tiers. Copra brings specialised capabilities, deep sourcing expertise and a super-premium offering that can help us serve more consumers, and expand our market share while continuing to help shape and lead the category's continued global growth."

Vita Coco stated it expects to generate "value" by expanding Copra's capacity, investing "thoughtfully" behind the business, and "improving operational efficiency."

Martin Roper, the group's CEO, highlighted Copra's "remarkable" net sales compound annual growth rate (CAGR) of nearly 50% over the past three years, particularly "in the cold-chain coconut water segment."

He added:

"We believe it is a perfect add-on to our coconut water capabilities, expands our total addressable market, strengthens our participation in coconut water, and gives us another way to help shape the category's continued growth."

Copra's Performance and Product Range

Copra anticipates its annual net sales will exceed $100 million this year, with the majority generated in the Americas. The company sees "opportunity to expand internationally and to significantly grow the branded business."

According to its website, Copra sells chilled coconut waters as well as other coconut-based products, including coconut flesh and sugar.

Chai Phonsuwan, co-founder of Copra, said:

"Vita Coco is the perfect partner to help achieve our vision to be a leading player" within "the super-premium segment" of coconut water.

Following "full integration" of the Copra business, Vita Coco expects the acquisition "to be accretive to its adjusted EBITDA margins."

Vita Coco's 2026 Outlook

In its first-quarter results, issued in April, Vita Coco raised its full-year guidance for net sales and adjusted EBITDA.

For 2026, the company anticipates:

• Net sales: $720 million to $735 million (up from a prior outlook of $680 million to $700 million), driven by its namesake coconut water brand and "improvements in private-label trends from new and regained business."
• Adjusted EBITDA: $132 million to $138 million (up from a previous range of $122 million to $128 million).

"Vita Coco buys coconut-water maker Copra" was originally created and published by Just Drinks, a GlobalData owned brand.